Market Verdict on Iron Ore： • Neutral. Macro • During the first five months of 2022, Chinese industrial enterprises above designated scale reached 3.44 trillion yuan, up 1% on the year. Jan- Apr growth was 3.5%. The revenue growth reached 6.8% on the year. Iron Ore Key Indicators: • Platts62 $119.60, +4.60, MTD …
Author archives: Hao Pei
Oil Extends Gains As Major Producers Have No Spare Capacity 28/06/22
Oil extends gains as major producers flag capacity limits Oil prices rallied for a third day on Tuesday as major producers Saudi Arabia and the United Arab Emirates looked unlikely to be able to boost output significantly while political unrest in Libya and Ecuador added to those supply concerns. U.S. West Texas Intermediate (WTI) …
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Iron Ore DCE September Daily Technical Review 27/06/22
Verdict – Short-term neutral. DCE iron ore September contract approached the previous gap from 779.0 – 790.0 area, a successful breakthrough on this area would confirm the effectiveness of a continious rebound. Hourly MACD flattened. Hourly slow stochastic KD flattened in high area. Hourly CCI potentially correct in bullish territory. Short-run technicals were indicating an …
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Daily Virtual Steel Mill Report 27/06/22
Market Verdict on Iron Ore： • Neutral. Macro • IMF decreased the U.S. economy growth rate from 3.7% to 2.9% in 2022, 2.3% to 1.7% in 2023. • Global energy bureau predicted the investment in energy would increase 8% in 2022, equivalent to 2.4 trillion U.S. dollars, mainly contributed by green energy sources and …
Crude Oil Climbs Amid G7 Dissusions On Russian Exports 27/06/22
Crude Oil Climbs Amid G7 Dissusions On Russian Exports Oil prices extended gains on Monday as investors stood on guard for any moves against Russian oil and gas exports that might come out of a meeting of leaders of the Group of Seven (G7) nations meeting in Germany. The prospect of more supply tightness …
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Iron Ore DCE September Daily Technical Review 24/06/22
Verdict – Short-term neutral. DCE iron ore September contract tested both first support and resistance, finally consolidate in a narrower range. It is expected that iron ore would keep in a narrower range in the next few days with a loss on both trading volume and open interest. The last three hours movement started …
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Daily Virtual Steel Mill Report 24/06/22
Market Verdict on Iron Ore： • Neutral. Macro • U.K. PMI 53.4, created the lowest from July 2020, est. 53.7, last 54.6. • Global energy bureau predicted the investment in energy would increase 8% in 2022, equivalent to 2.4 trillion U.S. dollars, mainly contributed by green energy sources and power grid. Iron Ore …
Iron Ore Rebounded After Xi Pledged To Achieve Economic Goals 24/06/22
Iron Ore Rebounds After Xi Pledges to Meet Economic Growth Goal Iron ore advanced from its lowest close in more than six months after President Xi Jinping pledged to achieve economic goals for the year, despite pandemic and property headwinds. China’s leader re-iterated the country’s “social and economic development targets” at a business forum …
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Iron Ore DCE September Daily Technical Review 23/06/22
Verdict – Short-term neutral. DCE iron ore September contract terminated previous 12-day loss by 26.32% since June 7th. However it is worth noting that the daily rebound yet to recover the last single day slump yesterday . The recent mid-run resistance at 790.5 yuan, which was the upper bound of previous gap. 728.5 shift …
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Daily Virtual Steel Mill Report 23/06/22
Market Verdict on Iron Ore： • Neutral. Macro • U.K. May CPI up 9.1%, est. 9.1%, refreshed the highest since 1982. May CPI up 0.7% from April. Iron Ore Key Indicators: • Platts62 $109.40, -6.50, MTD $133.82. Float base iron ore premium dropped massively from $2.8 to $0.45 over the last ten trading …